The Peg 2 occurrence is located at an elevation of approximately 1450 metres on a southeast-facing slope, west of Matthew Creek and approximately 5.7 kilometres east-southeast of Bootleg Mountain.

Regionally, the area is underlain by argillites and quartzites of the Mesoproterozoic Aldridge Formation (Purcell Supergroup). These have been intruded by gabbro sills and dikes of the Middle Proterozoic Moyie Intrusions.

Locally, a pegmatoid granite sill of the Matthew Creek stock, related to the Middle Proterozoic Hellroaring Creek stock, intrudes the Aldridge Formation sedimentary rocks and is reported to host beryl crystals. As defined by drilling, the pegmatoid granite body (sill) dips 10 to 30 degrees and has been followed along strike for greater than 60 metres and downdip for over 42 metres. The sill varies in thickness from 5 to 21 metres and is increasing in width to the southwest and downdip.

Work History

In 1971, Kerr Addison Mines Ltd. conducted a regional program of geological mapping and geochemical (soil and silt) sampling on the are as part of the Dewar Creek project.

In 1985 and 1986, Amstar American completed programs of geological mapping, soil and rock sampling and ground and airborne geophysical surveys on the area as the Bootleg and High Peak claims.

In 1994, a program of rock and soil sampling and geological mapping was completed on the area as the Ham claim group by Shaun Hamilton. In 1996 and 1997, Sedex Mining completed programs of soil sampling and a 52.5 line-kilometre gravity survey on the area as the Ham claims.

In 2000 and 2001, Chapleau Resources Ltd. completed four short diamond drill holes, totalling 98.7 metres, on the Peg 2 claim. Drilling yielded intercepts including: 0.113 per cent beryllium oxide over 6.0 metres (5.7 to 11.7 metres down hole), including 0.291 per cent beryllium oxide over 1.0 metre (5.7 to 6.7 metres down hole) and 0.007 per cent bi-tantalum pent-oxide over 1.3 metres (12.7 to 14.0 metres down hole) in hole P01-1 and 0.109 per cent beryllium oxide with 0.008 per cent bi-tantalum pent-oxide over 4.0 metres (11.8 to 15.8 metres down hole) in hole P01-4 (Assessment Report 26701).

In 2009 and 2010, Kootenay Gold prospected and rock sampled the area as the MS Peg property. In 2014, the MS Peg property was prospected, and rock sampled by C. Kennedy. A float sample (CK-14-175) of liesegang-altered schist with broken quartz vein and limonite, located approximately 450 metres to the west of the occurence, yielded an anomalous lanthanum value of 0.024 per cent (Assessment Report 34960).

In 2023, Andris Kikauka conducted a minor program of prospecting and geochemical (rock and soil) sampling on the Peg property.